Pfizer's sales in the fourth quarter more than doubled, thanks to strong demand for its Covid-19 vaccine. But that wasn't good enough to satisfy investors
The drugmaker said it posted revenue of $23.8 billion, missing Wall Street's expectations of $24.1 billion. More than half of Pfizer's total sales, $13.9 billion, came from its vaccines unit.The company also reported net income of $3.4 billion, topping analysts' forecasts. Pfizer said it expects $32 billion in sales this year from Comirnaty, the Covid vaccine. Still, that was below Wall Street's expectations of nearly $34 billion.
Albert Bourla of Pfizer is the CNN Business CEO of the Year"In the early days of the Covid-19 pandemic, we committed to use all of the resources and expertise we had at our disposal to help protect populations globally against this deadly virus, as well as to offer treatments to help avoid the worst outcomes when infections do occur," said Pfizer CEO Albert Bourla in the earnings release.
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